Celadon Group reported its net income decreased 20.0 percent to $7.2 million in the fourth quarter of fiscal year 2013, ending June 30, 2013, from $9.0 million in the same quarter last year.
However, quarterly revenue for the North American motor carrier, No. 35 on JOC’s 2012 list of the Top 50 Trucking Companies, was $162.6 million, increasing 3.2 percent year-over-year from $157.5 million. Freight revenue, excluding fuel surcharges, rose 5.7 percent to $131.4 million, versus $124.3 million.
For the full year, profit improved 7.1 percent from $25.5 million in fiscal year 2012, ending June 30, 2012, to $27.3 million in fiscal year 2013. Revenue was $613.6 million, increasing 2.4 percent from $599.0 million last year, and freight revenue, excluding fuel surcharges, was $489.0 million, up 2.9 percent from $475.1 million.
“We are pleased with our overall improvement in our operating statistics,” said Paul Will, Celadon’s president and CEO, in a written statement. “We believe we have put in place a lean cost structure, upgraded and expanded the fleet to one of the newest in the industry, broadened service offerings to customers and positioned the company to allow it to expand margins and profitability.”